Check out nine of the fastest growing sectors in business today

Some of the fastest growing sectors in the world today are associated with many modern issues we face. Like a reflection of societal issues and change, the world of business and industry clamours to meet demands from travel and tourism to address the growth of new AI tech.

Storage and transport distribution

Countries all over the world rely on robust logistics services, and these include storage and transport. From the single family using local self-storage during a spring clean to international businesses as part of a global supply chain, distribution and storage are massive industries.

The UK ONS has stated that this sector is the fastest-growing in Britain. This encompasses many types of niches in the sector, including haulage, warehousing and even courier services.

Travel and tourism are growing sectors

Global tourism is back and bigger than ever after the Covid-19 pandemic. From 2023 to 2024, the sector has seen a revenue growth of 18.6%, with an estimated revenue worth of $2.3 trillion.

This is evident in the growth in the US alone, which has increased by 28% from May last year alone, bringing the visitor numbers to the states to almost 2.6 million. Further afield, emerging economies in Africa and Asia have also seen a resurgence in tourism, providing further growth.

IT, networking and cybersecurity

Our reliance on tech means there is always an industry that demands skilled workers in increasingly challenging roles.

General IT is a staple part of any business and, indeed, home these days. Yet strong networking skills are also required for businesses that use the internet often or have server and cloud-based needs.

Which is almost all. However, the cyber threats we also face are stimulating the need for experienced and skilled cybersecurity experts globally.

The construction industry

One of the most volatile sectors (because of its reliance on economic stimulation) is the construction industry. Ranging from jobs in landscaping to high-rise commerce, the industry is currently enjoying a resurgence in business.

Before 2030, the sector is expected to grow by 11%, according to some forecasters. And given the range of roles and ease of access to most construction jobs, there is plenty of growing interest in the sector among students and experts.

The healthcare industry

There’s probably no industry more important than health care, and even in developed nations, we are seeing something of a crisis. Many cannot fill positions by workers from their own countries, such as in the UK, and there is a 1.9 million shortfall in the US in healthcare roles.

Personal care services

Providing this type of care takes a special person and requires amazing interpersonal skills. You may be asked to assist with intimate care, dressing and making daily meals for your patients.

In-home healthcare services

This is similar to personal care, but the difference is you take care outside of a facility and provide it in a patient’s home. This can be more challenging without support staff available.

Occupational therapy

This type of therapy helps people get back to a normal life or as normal as possible. You will generally see people after a serious injury or illness, where health and wellness is crucial.

Physical therapy

Physical therapy aims to help people get back to moving as best as they can following a disabling injury or illness. Working with the patient in a holistic manner is often essential here.

Genetic counselling services

In a more modern type of care, a genetic counsellor helps people make informed decisions before, during and after genetic or genomic testing for issues such as detecting cancer.

As with most sectors, there are many roles within healthcare, and they are very rewarding. The industry as a whole continues to grow, with an estimated value of $28 billion by 2027 in the US alone. Because of the shortages, it can be a high paying sector based on skills and experience.

The leisure and hospitality sector

Like the travel sector, leisure and hospitality took a massive hit during the pandemic. Some businesses didn’t make it and are permanently closed, while others managed to stay alive, barely.

However, the good news is that the industry is back and thriving once more, from street cafés to five-star hotels. Some of the fastest-growing jobs in the world are within this sector and include positions such as ushers and attendants, restaurant chefs and cinema projectionists.

Online shopping and e-commerce

Of course, the rapid growth of e-commerce has been nothing short of amazing over the past 20 years. While eCommerce enjoyed a steady growth rate, it boomed during lockdowns as other types of businesses couldn’t open.

Today, e-commerce is stronger than ever before, and companies such as Amazon, Wish and AliExpress are booming. While there are many jobs available across eCommerce, the effects on physical stores are beginning to show with growth.

AI is one of the fastest growing sectors

Undoubtedly, 2023 has been the year of AI, and it is expected to grow larger and faster. By 2023, the AI sector is predicted to have a value of over $100 billion by the end of the decade.

Yet some analysts predict it could be far more based on how AI is treated by the international community based on laws that are now being drafted in the US, the EU, and even China. Yet even with generative AI, there are more jobs being created to use or keep up with changes.

Modern FinTech services

FinTech simply means financial technology and has become a core part of modern business over the past couple of years. FinTech includes mobile banking, P2P payment services like PayPal and trading platforms such as eToro.

In the UK alone, the FinTech sector has grown by 88% since 2018 and is getting stronger. The value of FinTech is economic as although it facilitates economic growth financially, it also needs expert jobs such as web design and coding.

Summary

Storage and transport are among the fastest growing sectors in business today. However, much needed services such as healthcare are growing as they try to meet demand, especially in the private space. And modern services such as AI and FinTech are rapidly expanding.